5.0 is one of the greatest sounding motors of all time. That will never, ever change. And working on them is so easy.
I think you should do it. Bump up spring rate in the front and dump it in there. It's not like you're a hardcore racer or something. With an e-cam and set of 1k aluminum heads we could get that thing pulling like a freight train.
Look what Demeter did with a snail on his. And that car became a cr doobskin, everyone wanted a turn.